There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and … deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and …

and PPI. A supply shock shows itself in instant PPI adjustment, a demand shock in CPI. Thus, in the CPI inflation equation … shocks to the PPI inflation, production and employment equations. In the second part we implement the model on monthly data …

The article summarizes the main points discussed at the seminar on Monetary Policy during Very Low Inflation, held by … research into low inflation and its implication for the Czech economy. The presentation was largely based on material available …

inflation targeting. First, new consensus with its roots in Wicksell´s approach is briefly introduced. In the next parts … differences are found (goals of monetary policy, interest rate functions, nature of inflation, shape of Phillips curve and others …

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …

This paper begins with a description of simple select models of inflation and their ability to fit the data. The paper … assign the best-forecast performance to the modified version of the P-star model of inflation for a small, open economy. …